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来源类型 | Working Paper |
规范类型 | 论文 |
Trophy Hunting vs. Manufacturing Energy: The Price Responsiveness of Shale Gas | |
Richard G. Newell; Brian C. Prest; Ashley Vissing | |
发表日期 | 2016-08-22 |
出版年 | 2016 |
页码 | DP 16-32 |
语种 | 英语 |
概述 | Is unconventional natural gas supply more responsive to price changes than conventional gas? This analysis suggests that the answer is yes—specifically, almost three times as responsive, due entirely to greater well productivity. |
结论 | |
摘要 | We analyze the relative price elasticity of unconventional versus conventional natural gas extraction. We separately analyze three key stages of gas production: drilling wells, completing wells, and producing natural gas from the completed wells. We find that the important margin is drilling investment, and neither production from existing wells nor completion times respond strongly to prices. We estimate a long-run drilling elasticity of 0.7 for both conventional and unconventional sources. Nonetheless, because unconventional wells produce on average 2.7 times more gas per well than conventional ones, the longrun price responsiveness of supply is almost 3 times larger for unconventional compared to conventional gas. |
主题 | Energy and Electricity |
子主题 | Natural Gas ; Shale Gas |
URL | http://www.rff.org/research/publications/trophy-hunting-vs-manufacturing-energy-price-responsiveness-shale-gas |
来源智库 | Resources for the Future (United States) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/41460 |
推荐引用方式 GB/T 7714 | Richard G. Newell,Brian C. Prest,Ashley Vissing. Trophy Hunting vs. Manufacturing Energy: The Price Responsiveness of Shale Gas. 2016. |
条目包含的文件 | 条目无相关文件。 |
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